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Fiat Chrysler Automobiles' badembly workers build Ram 2019 pickup trucks at the FCA Sterling Heights badembly plant in Sterling Heights, Michigan on October 22, 2018.
Rebecca Cook | Reuters
Fiat Chrysler shares fell in value on Friday after announcing disappointing first quarter results, but they are still on track to meet their 2019 targets.
US stocks of the Italian-American company fell by 2.8% before climbing 6% in intra-day trading.
According to the manufacturer, the slowdown in sales in North America and Europe led to higher profits to the south. However, sales of American pickups such as the Jeep Gladiator and Ram models would contribute to achieving its target of more than 6.7 billion euros (201 billion) in 2019.
Sales of its popular line of Ram trucks jumped 22% from last year, while overall sales in the United States fell 3.1% in the first three months of the year.
Fiat Chrysler also said its first-quarter net profit had dropped 47 percent from the same period last year, rising from 951 million (1.06 billion) to 508 million euros ( 568 million euros) in the same quarter of the previous year.
In addition, earnings per share did not meet Wall Street expectations, standing at 40 cents (0.36 euros) compared to badysts' estimates at 52 cents (0.47 euros).
The Fiat Chrysler stock has soared 10.17% since the beginning of the year. In the last 12 months, the stock has decreased by 29.17%
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